“I think they have a relatively good product,” Chan said of the HTC One. “The problem is that they’re losing the window of opportunity because of all those component shortages. Right now the Sony (SNE) Xperia Z is pretty strong and Samsung S4 has just launched and will go into mass production by the end of April.”

Chan also said that the HTC First was unlikely to lead an HTC revival because Facebook’s (FB) Home software will be available on multiple devices and is unlikely to be a major differentiator.

“Facebook Home is more like an app, rather than a phone, so for other brands such as Huawei, ZTE and Lenovo, Sony, Samsung etc. they will all come out with their phone that will support this app,” he said. “So essentially everyone else will have their own Facebook phone.”